MEDICAL INFORMATION TECHNOLOGY, INC.
SHAREHOLDER & STAFF INFORMATION
JULY 31, 2021
For the 2nd quarter total revenue was $111.1M and operating income was $7.8M, down 4.1% and 51.6% compared to the 2nd quarter of last year. Such results are due to a diminished product backlog caused by the pandemic, but these comparisons are better than those indicated in the prior quarter. The encouraging news is that 2nd quarter product booking have finally increased significantly and more than doubled the average value achieved in each of the past 5 quarters.For the 2nd quarter net income increased dramatically to $41.1M due to a realized gain on the sale of a building offset somewhat by decreases in unrealized security gains. Such fluctuations distort comparisons to prior periods and are not a good indication of the future as is quarter to quarter growth.
The Board of Directors declared a quarterly cash dividend of $2,500 per share on all 7,106 shares of MEDITECH's outstanding common stock payable to the 292 shareholders of record at the close of business on July 26, 2021 with payment of such dividend made on Monday, August 9, 2021.
MEDITECH continues to provide access to its annual and quarterly reports just as soon as such reports are finalized.
|2021 Second Quarter Interim Report|
|2021 First Quarter Interim Report|
|2021 Annual Meeting of Shareholders|
|2020 Audited Financial Statements|
MEDITECH is no longer a public reporting company thus the financial statements provided are now considered confidential and not for public dissemination.